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20121222
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Search Results 0 to 49 of about 76 (some duplicates have been removed)
PBS
Dec 21, 2012 6:30pm PST
-called fiscal cliff of automatic spending cuts and tax hikes comes ever closer. >> his proposal, known as plan b, was shot down by republicans who refuse to support any tax increases. the plan would have raised taxes on income over $1 million. he says it is now up to president barack obama to come up with a solution. >> what could that mean for ordinary americans? our reporter went to find out. >> store manager jennifer thomas sells trendy designer fashions at her boutique in the u.s. capitol, washington, d.c. it is a tough business. competition is fierce, and it could get worse if the u.s. were to slip over the fiscal cliff. automatic tax hikes across the board would mean less disposable income for american consumers. >> i think our biggest concerns here are we will not be seeing people purchase as many items as they have in the past. we will see people buy jeans and a top, but they will not buy an additional pair of jeans or a dress on top of that. >> many customers are already pinching pennies. >> it has put a lower ceiling than normal on what we can spend for the holidays, our expendi
CBS
Dec 22, 2012 6:30pm EST
close a deal to end the fiscal cliff crisis. taxes for 90% of us will go up in days unless an agreement is reached. president barack obama is now in hawaii for christmas with his family. yesterday, he urged the congress to adopt a stopgap measure to keep benefits flowing to unemployed workers that prevent taxes from rising on income under $250,000 a year. house speaker john boehner, he's home in cincinnati tonight. he failed the get mobs of his -- to get members of his own party to support the plan b. proposal for ending the crisis. today boehner was blaming democrats for the stale mail by refusing to include -- stalemate by refusing to include entitlements in the proposal. >> what the president is offering so far won't do anything to solve the problem. instead he wants more spending and more tax hikes that will hurt the economy. and he refuses to challenge the members of his party to deal honestly with the entitlement reform and the big issues that are facing our nation. that's why we find ourselves here today. >> president said on friday that since the deal has not been reac
CBS
Dec 22, 2012 6:30pm EST
snowfall. >> axelrod: jeff, thank you so much. it's nine days now until the fiscal cliff of tax increases and spending cuts. still, congress has gone home for the holidays, and today president obama and his family arrived in honolulu, where they'll celebrate christmas. the president says he is ready to return to make a deal. retailers called today "super saturday." it is traditionally one of the busiest shopping days of the year. businesses are banking on it because so far this season sales numbers have not been as stroongz many had hoped to see. here's michelle miller. >> reporter: kidding around isa a specialty toy store in new york city. you won't find any of this stuff at target, wal-mart? >> no. >> reporter: the owner says today is his busiest day of the year. within the last month, what have your sales been? >> they're up from last year about 5.5% but some of that is the influence of the early hanukkah. >> reporter: he's doing better than most retailers. shopper track, which monitors consumer behavior nationwide, predicted holiday sales growth of 3.3%. they just cut it to 2.5%. >> t
MSNBC
Dec 21, 2012 10:00pm PST
nation goes over the fiscal cliff and taxes go up for every family in america. but there is still time for the speaker to hit the brakes and avoid that cliff. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates should not go up for the other 98% of americans, which includes 97% of small businesses. every member of congress believes that. every democrat. every republican. so there is absolutely no reason, none, not to protect these americans from a tax hike. at the very least let's agree right now on what we already agree on. let's get that done. >> the house of representatives now stands in recess until thursday, december 27th. just four days before we step off that fiscal curb. this week, the office of management and budget issued guidance to government agencies outlining the potential impact of the $1.2 trillion in budget cuts, which will start to take effect on january first, if congress does not act. joining me now is ezra klein, columnist for "the washing
NBC
Dec 22, 2012 6:30pm EST
. with just ten days left to act to avoid a plunge over the fiscal cliff, the president and congress have left washington for the holidays leaving the clock ticking down to an across-the-board tax increase for most americans. ten days is enough time to make a deal if republicans and democrats each decide to give some more ground. but tonight there are no such signs. that leaves millions of holiday shoppers tonight spending money against a paycheck that may soon get noticeably smaller. we'll dig down on how this could affect your bottom line. but first, let's find out where negotiations stand. nbc's kristen welker is traveling with the president in honolulu. hello, kristen. >> reporter: lester, good evening. president obama played a round of golf this afternoon but white house officials say this is also a working vacation for him and for his staffers. that is little comfort for the millions of americans wondering what the uncertainty in washington means for them. president obama arriving in hawaii after leaving a washington in disarray. while the president put politics aside for his weekly address -- >> michelle and i want to wish you a merry christmas and a happy holidays. >> reporter:
CNN
Dec 22, 2012 10:00am PST
. exclusively at verizon. >>> so far the fiscal cliff debate has focused on tax tas, how much the 1% or 2% of americans will see their rates go up. tax hikes on the rich alone will not put all that much of a accident in the national deficit. you could take away every dollar from the top 1% earners and it wouldn't fill the gap. we heard earlier in the week about chained cpi, a suggestion john boehner made for his proposal. christine? >> chain cpi would change the way the federal government calculates inflation, which could stave federal government $300 billion over the next decade if implemented. the consumer price index measures how much they go up by tracking a basket of goods that americans typically buy. this is important because it's used to calculate cost of living adjustments and social security. checks pay a little more each year in line with inflation as calculated by that consumer price index. now, one potential flaw in the system, consumer price index assumes people don't change their basket, if, say, the price of meat goes up. in other words, they don't switch from meat to chicken
FOX Business
Dec 21, 2012 7:00pm EST
question, why didn't anyone else think of it? well, we begin tonight with the fiscal cliff, justin days from the largest tax hike in american history was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxes and draconian spending cuts resting squarely on the president. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: president obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief w
MSNBC
Dec 22, 2012 4:00am PST
reaching a deal on the fiscal cliff. before heading to hawaii, president obama said he met individually with leaders of the house and senate, asking them to work toward a package that prevents a tax hike on middle class americans. >> this is something within our capacity to solve. it doesn't take that much work. we just have to do the right thing. so call me a hopeless optimist, but i still think we can get it done. >> earlier in the day, speaker boehner held a news conference. a vote on his so-called plan "b" was scrapped thursday night when it became clear it did not have enough support among house republicans to secure passage. >> a situation where because of the political divide in the country, because of the divide here in washington, trying to bridge these differences has been difficult. if it were easy, i'll guarantee you this would have been done decades before. >> joining me now, congressional reporter for "the washington post," ed o'keefe. good to see you. >> good to see you too. any kind of realistic timetable that this will be done before january 1st? >> what the president is most concerned about now, making sure unemployment insurance is extended for those that need it an
CSPAN
Dec 22, 2012 7:00am EST
. they are talking about, can we get past where we are in the fiscal cliff. host: we are talking with steph en dinan, the political politics as a at the washington times. but our next call comes from cal in tennessee on our republican line. caller: the tax increases are not enough. when you look at 1 $3 trillion over 10 years -- this president over the last -- when you look at $1.30 trillion olver 10 years -- over 10 years, we have spent $4.60 trillion or $4.70 trillion every year. what we need is more cuts in programs so we actually have more. we need $4.60 trillion in cuts to programs. if we are going to be back on the fiscal plan we honestly need. this president was elected by people who were already democrats in 2008 and 2012. he did not have a hard time getting reelected. we made a mistake about electing this guy for sure. guest: the caller has a lot of good numbers. these are rough, but about $2.30 trillion in revenue. last, we only had $1 trillion in deficits. his point is correct. the problem is you have the government taking in 60% of gross domestic product in tax revenue and spending between 23% or 24% in gdp in spending. we are borrowing 40 cents on every dollar that we stand. that has to close. i mentioned the gdp figures because the
FOX News
Dec 22, 2012 1:00pm PST
. >> reporter: d.c. may be some shutting down for christmas but the clock hasn't stopped and fiscal cliff is closer than ever. no deal was reached this week to keep taxes from going up. joan boehner pulled plug on the plan "b" and he says it is now up to the president and g.o.p. is continuing to hammer away at president obama. >> this is the year size of our debt surpassed the our economy. a grim milestone if we don't come to grips to w it. the president's plan to raise tax rates ko could still be as far as eye could see. >> reporter: president obama will return after christmas and work on fiscal issues. he believes a comprehensive deal could be reached but he seems to be acknowledging for scaled back plan for cutting taxes on the middle-class. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agree that tax rates shouldn't go up for the other 98% of americans which includes 97% of small business. >> reporter: president said the middle-class tax cuts achievable in the next ten days and he wants to preserve unemployment benefits that is set to expire f
PBS
Dec 21, 2012 4:30pm PST
on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about the fiscal cliff. speaking to reporters from the white house he said he's ready and willing to get a comprehensive packageone,ut it's up to republicans and democrats to make it happen. >> nobody gets 100% of what they want. everybody has to give a little. >> susie: the president also proposed a smaller package that prevents taxes for 98% of americans from going up and for unemployment insurance to be extended. he pressed lawmakers to agree on this in the next ten days. darren gersh has details. >> reporter: one day after the collapse of efforts to avoid the fiscal cliff, all sides were speaker boehner tried to shift that burden, saying democrats unemployment insurance to be extended. >> we can't cut our way to prosperity we need real economic growth. and many of us believe on both sides of the aisle that fundamental reform of our tax code will help us get our economy moving faster and
CNBC
Dec 21, 2012 7:00pm EST
. >> well, for a lot of reason. dan greenhaus, you know what happens? if the fiscal cliff goes to january, the middle class tax cuts won't be extended, right? they end. but if you're a republican in the house, you'll be voting for a tax reduction. in other words, the first they expire on december 31st. i want to make this point, it's a simple point, but it sounds complicated. they expire. then january 1st or whenever. republicans can vote for a tax cut to put them back in the place. that could be redempive. that could be the spiritual redemption. >> the first of two is we were talking, roughly speaking about $1 trillion, $1.2 trillion in tax increasesment on january 1st, we're going to be talking about a $3.8 trillion tax reduction. the biggest, i think, listen, i don't think the republicans acquitted themselves as terrible as some were making out yesterday. but what they did do that was quite poor. if you're president obama from a legacy standpoint, you got a big boost right now. what i mean by that is on january 1st, the bush tax cuts are no more. >> right. >> going forward for the rest of our lives, we're going
MSNBC
Dec 21, 2012 11:00pm PST
matthews. leading off tonight, fiscal cliff hanger. president obama calls on congress to act after christmas on a scaled down deal that would spare the middle class from tax hikes on the first of the year. >> we've heard plenty of people calling for new gun control laws, but very little from the national rifle association until now. in a bizarre news conference that was interrupted twice by protesters, the head of the nra. it's the same line we've heard before from the nra, but has the country's relationship with guns fundamentally changed since newtown? and what we saw last night from house republicans is yet another symptom of the real problem for the gop. they don't believe in compromise. and they've lurched too far to the right. we begin with where things stand on the fiscal cliff, msnbc political analyst and msnbc contributor jared bernstein. jentle men, president obama tonight said he had spoken with speaker boehner in addition to senate majority leader harry reed. >> i just spoke to speaker boehner and i also met with senator reed. in the next few days, i've asked leaders of congress to work towards a package that prevents a tax hike on middle class amer
CSPAN
Dec 21, 2012 8:00pm EST
the fiscal cliff. we passed a bill replacing the president's sequestered with irresponsible spending cuts. we did that last may. we passed a bill to stop all the tax hikes on the american people scheduled to take effect january 1, and we did that august 1. and we proposed plans over and over again that democrats used to support but now will not. i do not want taxes to go up, republican do not want texas to go up. but we only when the house. democrats continued to run washington. what the president has proposed so far simply will not do anything to solve our spending problems. he wants more spending and more tax hikes that will hurt our economy. and he simply will not deal honestly with entitlement reform and the big issues facing our country. we need significant spending cuts and real tax reform to address our long-term debt problem and pave the way for long-term growth and real growth in jobs in our country. we will continue to work with colleagues in the house and senate on a plan that protect families and small businesses from the fiscal cliff. >> i think we saw last night yet again the next chapter in this saga of trying to resolve the situation of
FOX News
Dec 22, 2012 11:00am PST
fiscal cliff is in a sense artificial, if he has the power to raise taxes next year for six months and then get down to serious negotiations after the congress-- >> and should republicans be willing to raise rates? say we lost the election, now what, we're just going to, we have to do it. >> well, i think if the president had put something that was like $1 of tax increases for every $4 that he was cutting, then there could be an argument for doing that, but he's not there. >> paul: all right, mary, thank you. still ahead, four state department officials were removed from their post after a report about the u.s. consulate attack in benghazi. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte w
CNN
Dec 22, 2012 11:00am PST
the so-called fiscal cliff, automatic tax increases on nearly every american and huge spending cuts to defense and social programs are set to take effect the 1st of january unless the president and congress reach a new budget deal. but most lawmakers have deserted the capital to be home for christmas leaving america teetering on the brink. one of those enjoying christmas back if california is republican congressman tom mcclintock joining us from sacramento, california. you are a tea partier. you're part of the tea party caucus but you supported house speaker bane area plan b. yes? >>, of course, i did. again, there is no bill before the congress that proposes raising taxes on millionaires or anybody else for that matter. there is a law that goes into effect in ten days that raises taxes on millionaires, small businesses filing as millionaires and everybody else. boehner's bill tried to stop that for everybody else. offa lifeguard sees ten swimmers drowning off of his beach and can only reach nine of them to save them, it doesn't mean that he's drowned the tenth one. all in nonsense
KRON
Dec 21, 2012 11:00pm PST
fiscal cliff. that is the end- of- the year trigger on tax hikes. and spending cuts. >> in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>pam: house speaker john boehner failed to gain enough of his party's support for his "plan b". that proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to kick in after january first. as the fiscal cliff countdown continues. house and senate members and president obama. have all recessed for the christmas holiday. >> the ninth circut court of appeals today blocked a california law which bans the controversial therapy. that aims to turn gay minors. straight. the three judge panel issued an emergency order, to put the law on hold until the court can hear further arguments. the law. which governor jerry brown signed in
KRON
Dec 22, 2012 7:00am PST
to the latest on the fiscal cliff. there is still no deal in washington. if congress and president obama do not come up with terms on addressing the issue severe cuts at the nation's budget will kick in. workers will see their taxes go up and their take-home pay will take a hit as early as mid january. joining us over the phone this morning is tax expertdean marycanning from golden gate university. mary, can you explain the impact on tax payers is no deal is reached? >> they may be subject to increases. it just depends on the income levels. >> even more maybe, here is an example. a taxpayer that maybe a couple with two kids they think it will just impact people with a higher level. but if you even have a family that just are a hundred thousand dollars a year. and they had a high tax reform a prior-year there one person was working and now they are not. they have personal expenses for each one of them these will be preferences. they have had this back for their alternative minimum taxes to be calculated. they can pay an additional $5,000 in taxes. >> i again if you are operating on--we're looking at a plan that if there were born to sell stock anyway. you have to look them both with the income would be next year vs w
CNN
Dec 22, 2012 3:00am PST
the week. >>> now, there are just ten days left to salvage a deal on the fiscal cliff where you, i, and everyone else will be paying much higher taxes. president obama is challenging congress to get it done. >> in ten days we face a deadline. in ten days under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates shouldn't go up for the other 98% of americans, which includes 97% of small businesses. >> let's check in now with cnn's emily schmitt in washington. the president made this surprise late appearance yesterday. he urged republicans to approve, i guess what you might consider a stripped down deal. this all happened around dinner time. so a lot of folks might not have seen it. give us the details. what is he proposing? >> well, i have to tell you, a few minutes ago, president obama landed in hawaii, 72 degrees there was the temperature on the ground. certainly warmer than it is in washington, certainly warmer than the political climate that president
KRON
Dec 21, 2012 8:00pm PST
called on congress to solution. to avoid some end- of- the year tax hikes. due to the fiscal cliff. >> in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >> pam: this comes after house speaker john boehner failed to gain enough of his party's support. to his "plan b". his proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to trigger after january first. as the fiscal cliff countdown continues. house and senate members have already recessed for the holidays. >> president obama will nominate senator john kerry as the next secretary of state. he made the announcement at the white house today. current secretary of state hillary clinton is stepping down in january.u-n ambassador susan rice was reportedly on the short list, but took herself off it, citing a "lengthy, disruptive, and costly" confirmation process after republicans took issue with her remarks on the
CNN
Dec 22, 2012 7:00am PST
supported. and that was president obama's plan to make sure to do this, deal with the fiscal cliff in a balanced way, which included raising the top tax rates for those making more than $250,000 a year. and so i hope that the republicans remember what the american people have said or else they're not going to be in a good political position for a very long time. >> speaking of the republicans, amy, house speaker john boehner, he had his plan b which was going to allow for 1990 tax levels for millionaires. keeping tax breaks for others. but he couldn't get it passed. never even went to a vote. what do you think his future looks like? is he done as house speaker? >> well, goodness, i won't make predictions about the republican caucus and the house and their ideas who've they want to lead them. but i think also the president needs to understand who won elections on the other side of the aisle. this november, republicans were returned to the house to be in charge, to keep a break on some of this runaway spending that we've been seeing that's been going on with trillions in deficit. and i think that the president has puts himself in a very diffi
CSPAN
Dec 22, 2012 6:00am EST
plenty was pulled from a vote on thursday evening. speaker boehner said about the fiscal cliff, "got only knows." he. -- he appeared with eric cantor. this is about 10 minutes. >> the house did not take up the tax bill last night because we did not have the votes to pass. it is not the outcome that i wanted. was the will of the house. unless the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in 10 days. the house has already passed bills addressing the fiscal cliff. we passed a bill replacing the president's sequestered with irresponsible spending cuts. we did that last may. we passed a bill to stop all the tax hikes on the american people scheduled to take effect january 1, and we did that august 1. and we proposed plans over and over again that democrats used to support but now will not. i do not want taxes to go up, republican do not want texas to go up. but we only when the house. democrats continued to run washington. what the president has proposed so far simply will not do anything to solve our spending problems. he wants more spending and more tax hikes that will hurt our economy. and he simply will not dea
ABC
Dec 22, 2012 4:00am PST
turn, now, to the fiscal cliff getting closer. just ten days until everybody's taxes go up and spending cuts kick in. and washington's a ghost town with no deal in sight. talks halted until after christmas, leaving just a few days to bang out some kind of plan before the deadline. abc's david kerley has the latest from the white house. david, before leaving us on the holidays with his family, the president urged lawmakers to find some common ground for these coming days. but it doesn't seem to be happening right now. >> reporter: the president in that same message, gave up on the big deal for right now. he wants a stop-gap measure to keep taxes from going up. and a framework for a deal next year. and the president's not in this house, either. this morning, the president arrived in his home state of hawaii for the holidays. before leaving, he told members of congress to cool down. have some eggnog and christmas cookies and come back and make a deal. >> nobody can get 100% of what they want. and this is not simply a contest between parties, in terms of who looks good and who does
MSNBC
Dec 22, 2012 9:00am PST
. >> david, are republicans actually hoping to go over the fiscal cliff because then any vote on taxes technically would be to cut them and could go forward without saying we cut taxes? >> that's a good point. inning way to look at it. it would probably give some cover to those republicans that seems clear however big a group that is that will not vote to raise tax necessary any way. you heard yesterday's speaker boehner blamed the -- downfall of his own plan b on the idea that, you know, many thought without it raise tax owes those making over $1 million. i think what the problem of going over the cliff, republicans and doing a tax cut, would give up some of the leverage probably enforcing president obama to come to the table with more spending cuts. if they go over the cliff they believe more americans will blame republicans. some polls show that americans are fed up and would blame both parties. i think that'sing? they would have to keep in mind. >> let's take a listen to what speaker boehner said friday. here it is. >> many of us believe on both sides of the aisle the fundamental reform of our
FOX News
Dec 22, 2012 10:00am PST
centanni is following this in washington. >> reporter: yeah, the fiscal cliff may be looming, but both sides have put negotiations on hold for now, to take a christmas holiday. no deal was reached this week to keep taxes from going up for everyone at the end of the year. house speaker john boehner, while saying he's still hopeful a sweeping deal can be reached, he's nonetheless, accusing the president of ignoring a huge problem here. >> this was the year of the size of our debt. all 16 trillion dollars surpassed the size of our entire economy. it's a grim many will have to bear if we don't come to grips with it. the president's solution of raising tax rates would still be red ink for as far as the eye can see he. >> reporter: president obama landed in hawaii this morning for a shorter than usual christmas break. and the white house yesterday, he said he thinks the comprehensive deal could still be reached, but at the same time, pushed for a scaled back plan to cut taxes for the middle class. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us, agreed that tax rates shouldn't go up for the other 98% of
CNN
Dec 21, 2012 11:00pm PST
of a fiscal cliff deal, you know, keeping tax cuts in place for 98% of americans, extending unemployment insurance, and laying out a plan, a down payment on a promise to do entitlement reform and also made a pitch to the american people to only blame republicans if there is no deal. so it is a two-pronged attack that he makes right before taking off on vacation. so right now, you know, the plan is basically to keep the pressure on, and we know both sides are planning to come back at some point after christmas and try to get something worked out, but no overt optimism coming really from the aides on either side right now. we'll see, soledad. i will tell you folks right now are planning to make new year's eve plans here in washington, d.c. we're not so sure we're getting out of town yet. >> they should be plans you can cancel if case you have to go right back to work. let me ask a question. jessica says pressure is a great motivator. talk about pressure last night on speaker boehner, couldn't get enough support from his own party for his plan. what does that mean for any kind
CBS
Dec 22, 2012 5:00am PST
you. >> thanks lon. >>> now to the fiscal cliff. the combination of tax hikes and across the board spending cuts that no one wants to have happen. the president seems to be sticking with his plan and congress seems to be in disarray. time is running out. the time is january 1st just ten days away. nancy cordes has the latest on the negotiations. >> reporter: shortly before he left for hawaii president obama urged congressional leaders to address a smaller plan to avert the fiscal cliff because his talk with speaker boehner on a smaller deal have stalled. >> i met them halfway on taxes, and i met them more than halfway on spending. >> reporter: that was not speaker boehner's take earlier in the day. >> what the president has proposed so far simply won't do anything to solve our spending problem. he wants more spending and more tax hikes that will hurt our economy. >> reporter: but boehner's position was weakened after he tried but failed to pass his own plan in the house. >> as you know the house did not take up the tax bill last night because we didn't have the votes to pass it. it
KRON
Dec 21, 2012 5:00pm PST
to avert some end- of-year tax hikes associated with the fiscal cliff. >> in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>reporter: the remarks came after house speaker john boehner failed to muster enough of his party's support to bring his "plan b" to the floor. his proposal would have effectively raised taxes only on those americans making more than one million dollars a year. >> we had a number of our members who just really didn't want to be perceived as having raised taxes. >>reporter: the two sides each left the capitol for the christmas holidays, blaming the other for inaction. democrats said thursday's failure in the house pointed to a need for more compromise by the g-o- p. >> house republicans have gotten the message loud and clear that a comprehensive solution to the looming fiscal cliff will need to be a bipartisan solution. >>reporter: senate republican leader mitch mcconnell said the next move needs to come from the president. >> he is
PBS
Dec 22, 2012 12:00am PST
oracle of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about
CNN
Dec 22, 2012 2:00pm PST
we were to go over the fiscal cliff. and because of that, payroll processors would wait to use the new math, if you will. and a lot of people wouldn't see an increase in the taxes taken out of their paychecks until late january or early february when it was clear that the fiscal cliff was here to stay. >> brianna, i am not by nature a jealous person at all. but are you in waikiki? is that waikiki? because i was just there for thanksgiving. >> reporter: not too bad, huh? >> i'm hating you to so much right now. congratulations on that assignment. brianna keilar. protests in the streets. police turned water can nons on men, women and children outraged over a brutal attack. and a former u.s. marine has been set free in mexico. but an american businessman has been held for over a year, charged with ties to organized crime. he says his life is on the line. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15
CNN
Dec 22, 2012 5:00am PST
week of drama in washington. this move by boehner, though, leaves the fiscal cliff negotiation in more limbo. what happens to all of us if no deal is reached ten days from now? >> we're all going to see our taxes go up. that's the reality here. if we go through this cliff, taxes on every american will go up. we will salso see the payroll tx cut end. that's another thing we'll wind up paying. there's 2 million people right now getting an extension on their unemployment benefits. that will end as well. a little bit less money, randi, in everybody's pockets. >> and stock markets, certainly we were watching the markets yesterday. they've taken a dive. why is that? what is the connection? do you see this continuing? >> the consumer basically, randi, accounts for about two-thirds of this overall economy. consumer spending is critical to having a healthy economy. so if the consumer is being taxed more, doesn't have as much money to spend, the expectation is that the consumer will pull back. you also have something else going on. if there's a lot of uncertainty in the c suite, ceos are saying i don't know what the landscape is going to look like over the next six months. thus i'm not willing to hire righ
PBS
Dec 21, 2012 6:00pm PST
of omaha has plenty to say on taxes and the fiscal cliff: we talk with his long-time friend and "fortune" magazine journalist carol loomis. that and more tonight on "n.b.r." some straight talk from president obama tonight about
FOX Business
Dec 22, 2012 12:00am EST
smaller fiscal cliff package, hope that they can win, you know the couple dozen republican house votes that they need and get this through. there's a bright side for politically bright side for republicans if that happens becae they, furer drive the contrast from the president. but it is typicalhe way we've seen them do business here in washington, you know, for past couple years and past couple decades really. melissa: steve what does that mean, a cobbled together solution look like? they raise taxes on everybody more than $250,000 and puteverything else indefinitely into the future. >> yes. i think they pause, they probably pause the sequester. they extend unemployment. i think there are things that the president has signaled are important to him, that he wants to gee done that will allow him to say, if he chooses to, if he wants to, to say, look, i drove the bus that helped avert this fiscal cliff. this is something that i, where i took leadership. i don't know if he will keep it at 250. might go a little bit above to look like he had some give and maybe to attract some of thoseouse
CBS
Dec 21, 2012 6:00pm PST
looming "fiscal cliff" so that means there are now just 10 days remaining until the automatic tax hikes and spending cuts kick in january 1. disagreements over how much to raise the taxes and cut spending continued to separate democrats and republicans. president obama called on house speaker john boehner to come back to the negotiating table and avoid the "fiscal cliff." >> as of today, i am still ready and willing to get a comprehensive package done. >> the remarks came after speaker boehner failed to gather enough of his party's support to bring his so-called plan b to the floor for a vote. his proposal would have effectively raised taxes only on those americans making more than a million dollars a year. house and senate members will be back at the capital on december 27th looking for that solution. >>> wall street worried about the "fiscal cliff" talks, stocks closed sharply lower today. the dow dropped more than 120 points. the nasdaq fell 29 points. the s&p dropped, as well. >>> california cannot stop people from using the so-called conversion therapy to try to turn gay minors str
PBS
Dec 21, 2012 4:00pm PST
- called fiscal cliff we have mentioned. there are just 10 days to go until this potentially damaging combination of tax increases and spending cuts goes into effect, but so far, the politicians seem no closer to averting the plunge. president obama is pressing for action. he had this to say just a few minutes ago. >> i just spoke to speaker boehner and i also met with senator reid. i have asked the leaders of congress to prevent tax hikes on middle-class americans, protect unemployment insurance for 2 million americans, and lay the groundwork for further work. that is an achievable goal. that can get down in 10 days. >> president obama there on the upcoming fiscal cliff. joining me now to discuss the standoff is the bbc's ben wright. thank you very much. was there anything in the president's speech that would give us any cause for optimism that is the cliff can beat averted? >> i thought his tone was interesting. he was optimistic an exasperated at the same time. he reminded people in congress they only have 10 days left to find a deal before there's this huge hike in taxes and cuts in spending. he said a deal o
CBS
Dec 21, 2012 5:30pm PST
budget cuts and those tax increases we mentioned kick in automatically january 1. the so-called fiscal cliff. the republican speaker of the house tried to force through his solution last night but he couldn't keep his own party in line. nancy cordes is at the capitol. nancy? >> reporter: scott, this was an unforced error. speaker boehner did not have to bring this plan "b" bill up but he was simply trying to get more leverage in negotiations with the president. instead, the misstep left him weaker and there is genuine confusion among both parties tonight about what to do now. speaker boehner left the capitol for the holiday this is afternoon, 18 hours after his risky move backfired. >> we didn't have the votes to pass it. it's not the outcome that i wanted. boehner wanted the house to pass a bill extending the bush-era tax cuts for all households making less than a million dollars a year. but a few dozen conservatives balked, saying it amounted to a tax hike on millionaires. louisiana's john flemming was one of the holdouts. >> raising taxes on any american to me is not the right messa
ABC
Dec 22, 2012 6:00pm EST
night with no agreement to avert the fiscal cliff. house speaker john boehner is home in ohio tonight. >> washington has a serious problem tonight. the president's solution of raising taxes -- >> the republican leader of the senate took a holiday swipe at democrats. >> i'm stuck here at washington. >> reporter: we're learning more tonight about how the negotiations fell apart. the wall street journal quoting unnamed sources when the speaker offered $800 billion in revenue by limiting deductions the speaker asked what do i get? the president reportedly responded, you get nothing, i get that for free. unable to agree on a big deal, the president is now hoping to get a small deal, extend middle-class tax rates and agree to a framework for a big deal. >> that's an achievable goal, that can get done in ten day zblrs can it? consider the speaker's other words which are really echoing about making a deal. >> how we get there, god only knows. >> the president wasted no time getting into vacation mode. he went golfing today in hawaii. white house officials told me that staff from both sides are talking through e-mails and phone calls and will through the next couple of days. we expect cong
CNN
Dec 21, 2012 5:00pm PST
agreement to avoid the fiscal cliff. the president says it would protect middle-class americans from a tax hike, extend unemployment benefits and set a framework for future debt reduction steps. that announcement came after he met with congressional leader. lawmakers will only have a few days to make aeal after they return from christmas break. president obama also announcing john kerry to replace hillary clinton as secretary of state. president obama credited him with playing a central role in every major foreign policy debate for nearly 30 years and called on the senate to swiftly confirm his nomination. >>> we are waiting for word on the status of this man, the u.s. veteran jailed in mexico on weapons charges after declaring an antique shotgun at the border. his name is john hammer and his family said mexico's ambassador to the u.s. told him he will be released today. anderson, back to you. >> well, that's certainly good news. we talked to his family last week. they were hugely concerned so we'll be following that closely. susan, thanks. there are obviously going to be more funerals in newto
CBS
Dec 21, 2012 5:00pm PST
failed efforts on the "fiscal cliff" sent the stock market sliding. the dow dropped more than 120 points. the nasdaq and s&p fell sharply. >>> some good news tonight on california's unemployment rate. it fell last month. it's in single digits for the first time since the recession began four years ago. the october rate was 9.8% but the numbers vary across the state. it's above 6% in san francisco and san mateo counties. just below 6% in marin county. but in drought battered imperial county, it is a staggering 26%! >>> extra misery for last-minute shoppers. >> i thought we had more time and here it is the last weekend. >> the bad weather making them pay for their procrastination. how some businesses are offering a gift of their own. >> and epic weather what the roads and slopes look like in a live report. ,, ,,,,,,,,,, must-have: air-jordans. hundreds lined up at malls across the country, includi the stonewst francisco, for >>> the newest holiday shopping must have, air jordans. hundreds lined up at malls across the country including stonestown galleria in san francisco for the new
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